A Free Credit Card Debt Relief Video was just released by Golden Financial Services discussing Debt Settlement vs. Debt Management In this article Golden Financial Services outlines important Pros and Cons with credit card debt relief programs.
Golden Financial Services is a BBB A rated company, in business for nearly a decade and has helped over 40,000 consumers in America through credit card debt relief programs. Golden Financial Services offers free information to consumers in America on all the credit card debt relief programs currently available including debt settlement and debt management. Golden Financial Services also warns consumers of scams to stay away from including deceptive ads such as: “government credit card debt relief”, “Obama credit card debt relief program”, “sponsored government credit card debt relief program” and “government programs for credit card debt relief”.
The new credit card debt relief free video that discuses debt settlement, debt management, bankruptcy, paying minimum payments, paying more than minimum payments and ways to raise credit score can be seen at http://www.goldenfs.org/blog/
Ruth Adorno, Senior Operations Manager at Golden Financial Services stated, “debt management can be a viable credit card debt relief program to help pay off credit cards. However it is important that consumers sign up for the right credit card debt relief program based on their individual situation. An experienced debt counselor at Golden Financial Services can assist consumers with free credit card debt relief information, education, a full budget analysis and then finding the 1 debt solution that best fits that individual.” http://twitter.com/vanessaallen
Some of the cons with debt management include a negative 3rd party notation that gets reported on a consumer’s credit report when they enroll, the plans extend for 48 months on average which is a long time and consumers save less money than if they were to join on a debt settlement credit card debt relief program.
Debt management can be great credit card debt relief option for consumers that are current on their credit cards, but are looking to get a reduced interest rate. The pros of debt management include late fees being waived, reduced collection calls and you will have only 1 monthly payment to take care of all your credit cards. Sometimes consumers can have a 30% interest rate, dropped to 8% once joining on a debt management plan as their credit card debt relief program. http://debteducationcenter.com/debt-consolidation/
With debt settlement the pros include saving more money and time than any other credit card debt relief program out there, including debt management. Consumers will also have flexibility on their monthly payment with debt settlement. http://debteducationcenter.com/debt-settlement/
Consumers can sign up for a debt settlement plan having 1 feasible monthly payment much smaller than what they would have if they were paying minimum payments on their own or paying on a debt management plan. At the Golden Financial Services website consumers can view the credit card calculator getting a better idea of how much money they can save on the different credit card debt relief programs. http://www.goldenfs.org/debt-calculator/ (These are only estimates for consumers who like to see pictures regarding credit card debt relief.)
Upon graduation with debt settlement consumers can rebuild their credit again, easier than if they had bankruptcy showing up on their credit report. With debt settlement, also known as debt negotiation, it feels good upon graduation because consumers will have achieved what at one point they believed to be impossible, and that’s total debt freedom.
The cons of debt settlement as a credit card debt relief option include potential creditor lawsuits, consumers will most likely take a hit on their credit score and will receive creditor phone calls. Therefore when consumers choose debt settlement to obtain credit card debt relief, since there is a chance that creditors will sue, reputable debt settlement companies will provide clients with lawsuit defense, a state and federal attorney, asset preservation, creditor harassment protection and lots of education on how to handle collection calls. With the best debt settlement companies they will also educate consumers on how to build their credit score back up upon graduation since their credit score will most likely take a negative hit while on the program, like with any credit card debt relief program. When consumers need credit card debt relief they are most likely not worried about their credit score at the time. The reason why is because if consumers have high credit card balances or maxed out credit cards, their credit worthiness is already being negatively affected. http://www.prlog.org/11880509-is-it-possible-to-raise-your-credit-score-by-100-points-in-less-than-18-months-how-can-it-be-done.html
Debt settlement with one of the best debt settlement companies in America can be an excellent way to achieve credit card debt relief and get a fresh start.